Birmingham Midshires 6.35% ISA

neilp

I am sure many people on here are aware of this, but Birmingham Midshires has launched an ISA that pays a clean 6.35%. It is operated by post, and it seems applications must be made by phone for the 2008-09 tax year, and an initial deposit by cheque. More details at:

http://www.askbm.co.uk/savings/p/isa/product.asp?id=138

For some reason I haven't seen this mentioned either in the articles on this site or in the forums (though I may not have spotted relevant threads), though it was featured it quite a few of this Sunday's papers, so I thought I would draw it to people's attention.

I hasten to add that I do not work for Birmingham Midshires or HBOS, nor do I have any experience of their customer service, so this is not a recommendation!

bristolleedsfan

The reason it hasnt had much of a mention is that its guarantee is not particular appealing.

"guarantee to beat the ING Direct Cash ISA (standard AER) by at least 0.25% until 1 January 2010."

Also for those that like to keep all their ISA money in one place it doesnt allow transfers in.

Also the account can only be operated by post.

neilp

Fair points, but it is an ISA that pays a clean 6.35% - 0.25% more than Icesave. Also, the Barclays 6.5% ISA does not allow transfers in. In any case, I am not promoting this account, just making people aware of its existence.

bristolleedsfan

neilp wrote: »

Fair points, but it is an ISA that pays a clean 6.35% - 0.25% more than Icesave. Also, the Barclays 6.5% ISA does not allow transfers in. In any case, I am not promoting this account, just making people aware of its existence.

Nothing wrong with making people aware of products that are currently at the top of the best buy tables, I only mentioned the reasons for it getting less publicity than other products.

Barclays ISA is a higher rate and has branch access.

I actually posted the BM ISA details at the time that it was only available to 2007/08 applications.

http://forums.moneysavingexpert.com/showthread.html?t=806337&highlight=birmingham+midshires+ISA

Mentioned here as well post 732.

http://forums.moneysavingexpert.com/showthread.html?t=401374&page=37&highlight=birmingham+midshires+ISA . in response to the link having changed from when it was posted on the first page of here.

http://forums.moneysavingexpert.com/showthread.html?t=401374&highlight=birmingham+midshires+ISA

Ill be interested to see how the rate fares during the next 12 Months.